Military Radar Market Expects Evolving Military Tactics To Drive Future Demand As Radar Technology Improves – MarketIntelReports

Wilmington, Delaware, March 20, 2017 (GLOBE NEWSWIRE) — The report “The Global Military Radar Market 2016-2026”, available on MarketIntelReports, estimates that airborne radar systems will continue to dominate the market till the next decade. 

Browse numerous Market Tables as well as Figures which are spread through 149 Pages and an in-depth TOC on the “Military Radar Market 2016 – 2026 

Scope & Regional Forecast of the Military Radar Market 

The demand for military radars in the global market is expected to be primarily driven by the growing importance of unmanned platforms and modernization of existing military radar systems. Additionally, advent of technologically enhanced radar systems such as Active Electronically Scanned Array (AESA) coupled with changing warfare tactics are also providing significant push to the growth of the global military radar market. Along with the major defense spenders in every region, the smaller countries are also undertaking modernization initiatives for installation of improved radar systems for their armed forces. 

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The global military radar market, valued at US$15.5 billion in 2016, is projected to grow at a CAGR of 1.84% over the forecast period period, to reach US$18.6 billion by 2026 and cumulatively value US$167.6 billion. The market consists of five categories: airborne radar, ground-based radar, naval radar, space-based radar and sonar systems. The market is expected to be dominated by airborne radar systems, which will account for 28% of the market, followed by ground-based, naval and sonar systems with shares of 25%, 20%, and 15% respectively. The remaining 11% will be accounted for by space-based radar systems. North America is forecast to dominate the sector with a share of 36%, followed by Asia Pacific and Europe, with shares of 26% and 23% respectively.

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Prominent Segmentations Involved in the Military Radar Market

The Military Radar Market can be broken down into various segmentations on the basis of – 

Key Markets: Regional Analysis, Prime Defense Market, Key Programs and Competitive Landscape Analysis. 

Some of the sample companies profiled in the Military Radar Market report are as follows:

  • Northrop
  • Grumman
  • Lockheed Martin
  • Boeing
  • BAE Systems
  • Saab Harris Corporation 

 Why buy this report?

  • Get a detailed picture of the Military Radar Market.
  • Pinpoint growth sectors and identify factors driving change.
  • Understand the competitive environment, the market’s major players and leading brands.
  • A ten-year forecast method is used in order to assess how the market is predicted to develop. 

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